Chinese crude steel output in 2011 seen at 699 million tonnes

According to data issued by the China Iron and Steel Association, dDaily output of crude steel in China in the last 11 days of May fell by 3.46% compared with the previous 10 days, reaching 1.915 million tonnes.

The figure would amount to almost 699 million tonnes if calculated on an annualized basis, compared to 627 million tonnes of output in 2010.

CISA deputy secretary general Mr Li Xinchuang had predicted at the end of May that full year output in 2011 is likely to stand at 680 million tonnes.(Sourced from Reuters)